Origin top investor rejects Brookfield’s ‘low-ball’ new bid

(Image: Bloomberg)

Fri, 24 Nov 2023

By Harry BrumptonOrigin Energy’s top investor rejected a revised A$19.1 billion (NZ$20.7b) takeover plan by a Brookfield Asset Management-led group, casting the year-long pursuit into new doubt.The utility disclosed an amended bid from Brookfield and EIG Global Energy Partners and delayed a planned Thursday vote on their A$9.43 a share offer until Dec 4, after proxy results showed the existing proposal would fail.Under a new plan, if shareholders reject the takeover next month, the suitors intend to pursue an alternative strategy to acqui...

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